 | Alfred Marshall - 1899 - 448 pages
...economic doctrines to practical problems. § 7. Thus we see that utility and cost of production both play a part in governing value. And we might as reasonably...of when one blade is held still, and the cutting is utility and cost effecte(} by moving the other, we may say with of production JO J jj on value. careless... | |
 | Kate Gordon - Meaning (Psychology) - 1903 - 92 pages
...Marshall, concerning the controversy whether " cost of production " or " utility " governs value, that " we might as reasonably dispute whether it is the upper...of a pair of scissors that cuts a piece of paper." B The general formula of demand and supply is developed in more detail by the theory of marginal utilities,... | |
 | Albert Conser Whitaker - Economics - 1904 - 240 pages
...utility are joint and equal regulators of value. Professor Alfred Marshall, for instance, states that " we might as reasonably dispute whether it is the upper...value is governed by utility or cost of production." 1 Historically, there have been developed by economists two distinct and apparently antagonistic theories... | |
 | Herbert Joseph Davenport - Economics - 1907 - 618 pages
...governed by its cost of production : "we might as reasonably dispute whether it is the upper or the lower blade of a pair of scissors that cuts a piece of paper ;" but, "as a general rule, the shorter the period which we are considering, the greater must be the... | |
 | Herbert Joseph Davenport - Economics - 1907 - 780 pages
...; not precisely that the value of anything tends to be fixed or governed by its cost of production: "we might as reasonably dispute whether it is the upper or the lower blade of a pair of scissors that cuts a piece of paper ;" but, "as a general rule, the shorter... | |
 | Alfred Marshall - Economics - 1916 - 916 pages
...value will be given in Appendix I. But it may be well to say a word or two here on this last point. We might as reasonably dispute whether it is the upper...by utility or cost of production. It is true that when one blade is held still, and the cutting is effected by moving the other, we may say with careless... | |
 | Milton Briggs - Economics - 1921 - 552 pages
...The words of Dr. Marshall cannot be bettered : " We might as reasonably dispute whether it is tlie upper or the under blade of a pair of scissors that...by utility or cost of production. It is true that when one blade is held still, and the cutting is effected by moving the other, we may say with careless... | |
 | Herbert Albert Silverman - Economics - 1922 - 396 pages
...supply will tend to have a greater influence. "Thus we see that utility and cost of production both play a part in governing value. And we might as reasonably...value is governed by utility or cost of production. . . . As a general rule, the shorter the period we are considering, the greater must be the share of... | |
 | Franklin Winton Ryan - Interest - 1924 - 298 pages
...Principles of Economics. See the 8th edition, book v, ch. m, § 7. The passage reads: "We might as well dispute whether it is the upper or the under blade...value is governed by utility or cost of production." [Utility or desirability is the cause of demand, while cost of production limits supply.] but out of... | |
 | William Smart - Austrian school of economics - 1926 - 124 pages
...Production or Utility governs Value. It might as reasonably be disputed whether it is the upper or the lower blade of a pair of scissors that cuts \a piece of paper." INDEX Adam Smith, I, 8, 18, 20. Aristotle, 3, 47. Austrian School, 5, 27, 30, 55, 85Bohm-Bawerk, 7,... | |
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We might as reasonably dispute whether it is the upper or the under blade of a pair of scissors that cuts a piece of paper as whether value is governed by utility or cost of production. 
